This investigation comes in response to a request from local steel producers, including Al-Obour Metal Industries and Kama Metal Coating and Processing. These companies allege that the products imported from Turkey and China are being sold at prices below fair market value, causing significant harm to Egypt's domestic steel industry.
The specific rolled products being investigated are identified by HS codes 720915, 720816, 720917, 720918, 720925, 720926, 720927, 720928, 720990, 721041, 721049, 721061, 721070, 721090, 721123, 721129, 721190, 721230, 721240, 721250, 721260, 722592, and 722599.
Between January and September 2024, Turkey supplied Egypt with 16.92 thousand tons of cold-rolled steel, 7.49 thousand tons of galvanized steel, and 15.03 thousand tons of painted steel. Meanwhile, China exported 79.78 thousand tons of cold-rolled steel and 37.62 thousand tons of galvanized steel to the Egyptian market during the same period.
It's worth noting that China's steel exports surged by 21.2% in the first nine months of 2024 compared to the same period in 2023, totaling 80.71 million tons. In September alone, Chinese steel exports reached 10.15 million tons, marking a 6.9% increase month-on-month and a 25.9% increase year-on-year.
Turkey also saw a significant rise in steel exports, with a 31.6% year-on-year increase over the nine months, reaching 27.8 million tons. In September, Turkey's steel exports grew by 17.7% year-on-year, totaling 1.3 million tons.